Quinn makes 48c Barlo offer

BUSINESSMAN Sean Quinn has launched a 48 cent a share offer for the plastics and radiator manufacturing group Barlo, gazumping a bid to take the company private by its management.

Mr Quinn's offer is 8 cents, or 20%, higher than the previous bid for the company by its chief executive Tony Mullins earlier this year, and values Barlo at €84 million.

And Mr Quinn's offer looks almost certain of success as he has acquired a further 22.6 million shares in the company, which brings his total stake up to 29%.